For years we have seen Netflix and only Netflix as the leading OTT platform not only in the USA but also in the world. But the same is not true anymore. Prime Video has dethroned Netflix and emerged as the number one OTT platform in the USA.
For more than a decade Longtime Industry Tracker Parks Associates has been a reputed firm in the tracking of streaming services. If you remember then the first quarter of 2021 was almost disastrous for Netflix. There was a massive stock plummet and it was a result of over 200K subscribers canceling their subscriptions. As a result, Netflix changed its years-old policy and is working on bringing a cheaper ad-supported plan that would target a wider audience.
Well, things might change after a while but currently, this doesn’t seem to be working. After the thunderous response to Lord Of The Rings: The Rings Of Power, Prime Video has made a significant impact on the viewers as a prominent OTT platform.
Although Netflix with 223 million subscribers is still the global leader, Prime Video dethroning them in the USA territory is a major setback to the dominance and image of Netflix.
Next year is going to be the returning platform for Netflix as a mere ad-supported plan won’t work. They would have to constantly work on their content as well.
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